To do that, however, it needs to be bigger or see its lending powers magnified. the chancellor informed them that the EFSF will be leveraged well beyond its current size.
The Vatican called on Monday for the establishment of a “global public authority” and a “central world bank” to rule over financial institutions that have become outdated and often ineffective in dealing fairly with crises.
The greatest Depression in modern times unfolding
Greece's debts are only one piece of Europe's economic puzzle, ($607 billion) bailout fund to keep the larger economies of Italy and Spain from spinning out of control and forcing weak banks to boost their capital buffers as a defense against market
Standard & Poor's (S&P) is to warn that a double-dip recession in Europe would imperil France's AAA rating and set off a string of downgrades across Southern Europe, undermining the EU's debt crisis strategy.
Before the war, Libya produced about 1.6 million barrels of oil per day. Libya now produces about 390,000 barrels a day. Analysts predict 600,000 barrels per day by the end of the year and 1.6 million by the second half of next year.
And while this is admittedly a symbolic development, we follow up this news with a piece from SocGen's Albert Edwards who has some quite factual observations on why China is now in stall speed and has little hope of a Hollywood ending.
In 1999, public banks dominated German domestic lending, with pr ivate banks accounting forless than 20% of the market, compared to more than 40% in France, Spain, the Nordic countries, and Benelux. Since then, Germany's public banks have
The FT is reporting that sources close to the EBA's new stress tests are talking €70-90 billion, rather than the €200-275 that analysts and IMF Managing Director Christine Lagarde have suggesed.
... - Under €100 Billion In Bank Recap Funding Available
BRUSSELS — The International Monetary Fund, known throughout its history for urging governments to slash their budgets, is now worried that a global round of austerity may trigger a new recession and is urging countries to look for ways to boost grow
10/18/2011 7 AM CST Ron Paul goes over his Restoring America spending cut plan on CNBC's Squawk on the Street with Joe Kernan and Andrew Ross Sorkin, which entails cutting $1 trillion in Federal spending within a year's time.
Deepening global Depression
Moody's warned on Monday it may slap a negative outlook on France's Aaa credit rating in the next three months if the costs for helping to bail out banks and other euro zone members stretch its budget too much. The warning comes as European Union
NEW YORK—U.S. stocks tumbled as fresh worries over the progress of Europe's sovereign-debt negotiations spurred a selloff, largely erasing Friday's gains.
Over the past three months, political gridlock in Washington over the U.S. budget deficit and infighting in European capitals resulted in the biggest falls in the prices of risk assets since the collapse of Lehman Brothers in late 2008.
To some extent it is remarkable that markets continued to rally last week and that Eurozone-related risk premia declined, because at the surface, there has been very little concrete progress regarding the Eurozone fiscal crisis.
BY COSTAS PARIS AND IAN TALLEY PARIS—World financial leaders meeting in Paris amid efforts to address Europe's debt crisis on Saturday pledged to ensure banks have sufficient capital and said Europe would work to maximize the impact of its €440 bi
The greatest threat to our economic future is what is happening in the eurozone. The scale of the euro crisis has made one thing abundantly plain: Europe, Britain and the rest of the world would be better off if the euro had never happened. It would
Thailand’s central bank is sitting on roughly $212 billion in net foreign reserves right now. That’s up 37% from last year and nearly 80% from 2009. Curiously, it all starts with Ben Bernanke.
Eurozone economies crumbling
A group of residents is using what little is left in their tsunami-devastated town to raise funds through tourism. Keiichi Abe, 43, who heads the group, and other members were discussing how they can make money on their own, without relying on out
(Reuters) - The sovereign debt crisis has become systemic and risks to the economy are increasing swiftly, European Systemic Risk Board Chairman Jean-Claude Trichet said on Tuesday.
Well, if you actually believe that the sovereign debt crisis has passed and that we are no longer on the verge of a massive worldwide financial crisis then I have a bridge that I would like to sell you.
Having failed so far to cobble up enough votes in order to approve the expansion to the EFSF, Slovakian PM Iveta Radicova is about to commit the ultimate personal act of sacrifice.
Ron Paul on Fox Business discussing European bailouts and occupy wall street.
To anyone still believing that capital markets around the world express something other than government policy, the latest news out of China may come as a surprise: "Beijing will buy more shares in China’s biggest banks, in an expression of support f
Presenting The Hyperbolic Bond Curve
Let’s pretend for a moment that Greece is a human being. I’ll call him George.
...Bank of England economist warns just days after £75billion cashflow is sanctioned